Gift cards have recently become among the most requested and popular gifts for all occasions. In addition to the traditional rush of gift-giving associated with the holiday season, gift cards have become go-to presents for birthdays, graduations, baby showers, and even weddings. In addition to providing convenience and enjoyment to gift-givers and recipients, gift cards can also provide outstanding benefits to your business as well.
Gift Cards Build Brand Value and Awareness
Gift cards are an effective way to turn your existing customer base into active recruiters and marketers for your company. Most of your happy customers’ friends and family appreciate the rave reviews your company receives, but the combination of a recommendation with a chance to try out your business for free is difficult to top.
Gift cards can be marketed and sold anywhere. You can advertise and sell cards in your store, your website, your app, social media, and other local stores. Cards carrying your logo and branding information will expand your reach well beyond your loyal customer base. Cards are like billboards that are directly pointed at your target audience. Whether a gift recipient puts that card in their billfold or in the console of their car, it will be a constant reminder of your brand and products.
Gift Cards Boost Loyalty
Customers really enjoy building up a personal connection with brands that they enjoy and trust. Gift cards are a great way to introduce your brand and products to new customers and are also a fantastic portal to other loyalty development techniques. Gift cards work very well in conjunction with loyalty programs, offering customers additional gift card benefits while building personal relationships.
Gift cards can also be used in a wide variety of ways to develop loyalty with existing customer groups. For example, consider the value of providing a local charity or youth group that does business with you with a stack of $20 gift cards for door prizes at their next event. Giving gift cards to existing customers promotes lifelong relationships.
Gift Cards Lead to Additional Sales
Gift cards provide a multiplied benefit to your holiday season sales. Many card recipients will shop with their cards immediately, and the large majority of recipients spend more than the face value of their gift card.
Normally, one of two positive shopping events occurs when a card is redeemed. A customer might decide to make a larger purchase, using the gift card as a way to discount the price they pay at checkout. You make a large sale that otherwise would not have happened. The second type of sale involves the customer who wants to save a balance on their card for a later shopping trip. In this case, you now have a repeat customer thanks to a single gift card sale.
Gift Cards are Affordable and You Receive Full Payment Immediately
Gift cards can be produced with amazing graphics and branding at a reasonable cost. Card purchases are funded at the time of sale, and processing and bookkeeping are straightforward and simple with modern software and efficient processing methods. Many gift cards are never redeemed, providing revenue without any additional corresponding overhead or product costs.
PayHub Payments is your partner for all payment processing needs. In addition to all of your traditional card processing needs, we can assist your company with processing gift card transactions during the upcoming high volume holiday season and all throughout the year. Contact us today to discuss all of your business’s payment processing needs.